ABSTRACT
This chapter focuses on some potential key problems of enforcement that may limit the initial impact of this new law and which already appears to have had some influence on the few cases to have emerged to date. It begins with a brief overview of the legislative process and the internal and external forces which led to the enactment of the new law. The chapter outlines particular attention being paid to two remarkable innovations for the Chinese system, respectively the concept of the 'administrator' and the development of a modern and freely available reorganization process. It devotes to a discussion of aspects of the new law that are likely to hamper its implementation. One such aspect is its court-centred basis. The structure of the new law creates a powerful role for judges in bankruptcy cases, and this may cause the procedures to be very cumbersome, time-consuming and expensive.
